Legal Question in Real Estate Law in Washington

Re: Transfer of ownership vs. Inheritance

It could create some unintended tax consequences for your parents or you. If the house is in WA you are much more likely to take it when your parents are gone subject to few issues if he simply leaves it to you. There is no real estate excise tax on a transfer through probate.

If your father is familiar with CA estate law, he probably thinks probate is a complete headache. Compared to CA, WA is simple and easy.

The other thing people are trying to plan around is needing assets for end of life care while preserving assets for their intended heirs.

This has changed in the last few years. Medicare is no longer willing to treat people as assetless because they transfer property before needing care.

Your dad should talk to an estate planning attorney and get some personalized advice that will help explain how best to do this. It might be a trust, it might be a will.

Hope this helps. Elizabeth Powell